Cherry Tree & Associates | December 2017
Cherry Tree has been tracking trends and activity in the Technology Enabled Business Services (TEBS) space for more than 15 years, including the TEBS 100, which is a broad index of 100 publicly-traded TEBS companies.
The four segments of the TEBS 100 are:

  • Software
  • Business Process Services
  • Information Services
  • Infrastructure Services
Each issue of this newsletter highlights transactions involving TEBS companies, as well as performance metrics for the TEBS 100. Cherry Tree also produces a quarterly TEBS report which is available for download:
Cherry Tree has more than 30 years of experience working with businesses in the TEBS space, originally as an investor and now as a provider of investment banking services. Our clients include companies seeking to sell their businesses or divest non-core assets, as well as strategic and financial buyers looking to make acquisitions. 

Contact Mik Gusenius at  mgusenius@cherrytree.com with any questions.
NOTABLE TRANSACTIONS – DECEMBER 2017
Intuit Will Acquire Employee Time Tracking Software...

Intuit Inc. (Nasdaq: INTU), parent company of accounting software QuickBooks and TurboTax, has signed an agreement to acquire the time tracking and employee scheduling software company Tsheets for $340 million. The acquisition will reportedly...

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smallbiztrends.com
Payment processor Total System Services to buy Cayan for ...

Total System Services Inc. on Monday said it would buy payment technology firm Cayan for $1.05 billion in cash to expand its offerings to small and mid-sized U.S. businesses. The deal is expected to modestly benefit TSYS's...

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www.reuters.com
Iron Mountain Makes $1.3 Billion Data Center Acquisition

Iron Mountain is buying the U.S. operations of IO Data Centers, giving it access to the lucrative colocation data center services business.

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fortune.com
Label Insight Raises $21M to Tell You More About What's...

Label Insight, a Chicago tech company that helps consumers know all the ingredients in their food, has raised $21 million in new funding. Label Insight uses data science to bring transparency to food product labels to help people with allergies...

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www.americaninno.com
Oracle to buy construction collaboration software maker...

Oracle will pay $1.2 billion in cash to buy construction software developer Aconex, the companies announced today. Based in Melbourne, Aconex's cloud-based software allow teams working on building projects to collaborate and share documents....

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techcrunch.com
IWCO Direct Is Acquired in $476M All-Cash Deal

ModusLink Global Solutions has acquired Chanhassen, Minn.-based IWCO Direct, a privately-held provider of data-driven direct marketing solutions, for $476 million in cash, culminating a mega-deal that ends the chapter of IWCO Direct as the...

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www.piworld.com
Equinix wins $1bn race for Metronode

Equinix has snapped up data centre operator Metronode for a shade over $1 billion in cash, significantly expanding its capital city reach. The buyout means Equinix now has floor space in Perth, Canberra, Adelaide and Brisbane, in addition to its...

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www.itnews.com.au
EBay acquires Terapeak to provide more analytics to...

EBay announced another acquisition today that underscores the company's current focus on building out better data tools for third-party sellers on its platform, to help it compete better with the likes of Amazon and other marketplaces to...

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techcrunch.com
TEBS 100 INDEX PERFORMANCE
TEBS 100 INDEX METRICS

For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining venture financing, please contact Mik Gusenius.

Prepared by:
Mik Gusenius, Director

Phone: 952.253.6005


Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Our firm specializes in serving middle market companies and their owners, whether private, public, or divisions of larger corporations.
Important Disclosures

The information included in this publication has been obtained from public sources, and is not based upon private or confidential Cherry Tree information. Cherry Tree gathers its data from sources it considers reliable. However, it does not guarantee the accuracy or completeness of the information provided within this publication. Any opinions presented reflect the current judgment of the authors and are subject to change. Cherry Tree makes no warranties, expressed or implied, regarding the accuracy of this information or any opinions expressed by the authors. Officers, directors, partners of Cherry Tree and Cherry Tree proprietary investment funds may have positions in the securities of the companies discussed, and certain affiliates of Cherry Tree may recommend to specific clients the purchase and sale of securities discussed in the publication. This publication does not constitute a recommendation with respect to the securities of any company discussed herein, and it should not be construed as such. Cherry Tree or its affiliates may from time to time provide investment banking or related services to these companies. Like all Cherry Tree employees, the authors of this publication receive compensation that is affected by overall firm profitability. We undertake no obligation to update any information in this publication.

The TEBS Performance Index is a hypothetical index, and does not reflect an actual investment portfolio. Comparisons between the TEBS Index and other indices are for illustrative purposes only. Correlations in performance information for the TEBS Performance Index and other indices should not be relied upon as indicative of risks involved in owning or holding a portfolio of securities similar to the TEBS Performance Services Index. Past performance should not be relied upon as indicative of future performance.